Rivers State’s financial management under President Tinubu’s handpicked sole administrator, Vice Admiral Ibok-Ete Ibas (rtd.), is drawing sharp criticism as transparency collapses and the Senate steps in to reassert oversight.
For the first time since late 2023, the state has failed to publish its mandatory quarterly budget performance report—specifically for the January–March 2025 period. This document, typically released within 30 days of each quarter’s end, details how public funds are allocated and spent.
The lapse follows closely on the heels of Tinubu’s controversial suspension of Governor Siminalayi Fubara and the imposition of emergency rule in Rivers, which saw Ibas appointed to govern the state.
Prior to this, Rivers had consistently released these financial reports from Q4 2023 through 2024. With the silence from the state government deepening, questions are mounting over Ibas’ handling of an estimated N411.7 billion—comprising N279.5 billion from FAAC allocations and N132 billion in projected internally generated revenue over a six-month span.
In response, the Senate on Tuesday constituted an 18-member committee to probe the administration. Senate President Godswill Akpabio, who inaugurated the panel, emphasized its mandate as “critical” to maintaining democratic accountability and transparency.
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Akpabio directed the committee to begin work without delay, reaffirming the Senate’s dedication to “good governance and oversight.”
Meanwhile, former Rivers governor Rotimi Amaechi weighed in, tying the state’s ongoing political crisis to financial disputes. “The fight between the current governor and the FCT minister is about sharing money,” Amaechi said in a recent interview.
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